The ruler has made it obligatory upon us to have insurance, so if we obey him in (this matter), have we committed a sin? If we don’t obey him, we won’t be able to carry out our needs. So what is your opinion, Oh Eminent Shaykh?”

If there is a harm upon you if you don’t have insurance; meaning if you’ll be harmed by it, then Allah says :

إلا ما اضررتم إليه

“Except under compulsion of necessity”

[6:119]

Pay for the required insuranc. However, do not profit anything from it. If you are in need of anything, then it should be from your own money (that you have been reimbursed with) and not from the (extra) money of the insurance company; the money of the people. You are merely paying due to this daroorah (i.e. necessity) and to fulfill your needs. As for earning a profit from it, then do not do so, since this is Haraam.